Ten moves to teach you to debunk the foreign exchange scam
In the past year or so, due to the lack of effective legal regulation, the foreign exchange forextradingaccountsregisterdustry has seen many industry shame forex trading accounts damage to investors scam, foreign exchange platform run away from time to time at the same time, foreign exchange business WeChat public number (ID: forexpress123) background can often receive complaints from investors, complaining about a certain cashback forex website closed, out of gold The companys website forextradingaccountstype closed, the amount of losses suffered, or ask whether this is a formal trading platform and so on … … whether investors, introducing brokers or industry companies, this unlawful behavior are disgraceful and hateful in order to avoid being deceived, and how we should avoid falling into these scams? Here are seven ways to avoid falling for the scam, the foreign exchange scam at a glance demolished: 1. If it looks too good to be true, it may be fake: some automatic answers and promises of immediate profitability of the site, should totally arouse the suspicion of investors want to profit in the foreign exchange market can not be so easy such sites are usually only a simple page, above all the profitability of the publicity and attractive dollars, but no The images of these detailed explanations make people feel pompous, not at all practical 2. Propaganda company is about to be listed: Hui Shang Jun recently received inquiries from investors in the background of WeChat, a platform called Heng Rui Finance, claiming to be about to be listed, requiring investors to subscribe for shares, and currently can not withdraw gold Currently, there are only a handful of listed foreign exchange brokers worldwide, and this trick can only cheat uncles and mothers and so on Layman investors, before running away with huge sums of money GSM Jubilee Financial has used this scam investors in this situation, you can immediately include it in their investment blacklist 3. more talk with other people: it is recommended that you talk with the employees of your intended company, but also find other people who use this companys products to consult to get an objective impression sometimes, you will find just look at the company promotional video of those people can determine that they look like a fraud there are also times when they look a serious, so you will need to find out for yourself, to understand whether they really think their products are good and support these products 4. Network search to find the problem: now it is easy to search on the network to a company or a product suggested in the search bar after entering the need to search for the name, then add poor or fake and other words if the search results appear too many such results and examples, then it is certain that these messages in addition to from competitors, there must be many users have encountered these 5. Find companies and employees on LinkedIn: LinkedIn is the worlds largest professional social network, with a fairly wide range of users usually in the search for a company and its employees LinkedIn pages often appear in the top search results If the company and its employees do not have a resume on LinkedIn, then there must be a problem If they do, then see who is recommending them Reliable references will increase your confidence in the company 6.Regulation: Any regulated company in the foreign exchange industry is bound to be regulated by one or more regulatory bodies American Futures Association (NFA) is the most stringent regulatory authority (sometimes even too harsh, resulting in many brokers leaving the U.S. market) a company has the NFA, the Financial Conduct Authority (FCA), the U.S. Commodity Futures Trading Commission (CFTC) or other well-known regulatory agencies authorized license, does not necessarily mean that the company is very honest, but this will be relatively secure If some companies regulatory agencies in foreign unknown island, or a country in Africa, the regulatory authority, then you should beware of these companies (related articles click to see: ten moves to teach you to identify the true and false FCA regulation of foreign exchange companies) 7. demo account: a foreign exchange demo account is the most basic tool to test a broker some mechanical systems can do a very good demonstration but the actual how? You must practice yourself some installation procedures, quote update speed and spreads, etc., are likely to determine whether the trader has certain problems you can apply for a demo account in the intention company to feel the trading process and execution speed 8. intuition: the foreign exchange industry does have a lot of malicious people they have no ethical bottom line, even depending on the law as blank paper, before being uncovered. always look innocent defense of people, you should assume that everyone is sinister, until to determine that they are honest and frank for people the market is like that! 9. carefully browse the companys official website: to be honest, this is very important, the official website of the regular legal foreign exchange company, often to investors notice all the information related to investment, including trading risks, regulatory information, trading products, company profile, etc., and a look at you know that this company is not intent on doing the opposite, some companies official website, a glance up, is a cottage website, the page is crude, the color does not match and the company is not a cottage website. The page is rough, the color does not match, and the lack of key investment information 10. Beware of high yield promises: At present, Chinas foreign exchange industry, many foreign exchange companies launched foreign exchange fund products, to investors promised a year, a month and other different cycles can get a high rate of return, this company investors generally have to beware of a financial company, what assets to back up, to give investors high yield? You think you are a bank?